Warren Buffett, the public CEO of the public's investment company Berkshire Hathaway, was announced at the annual company shareholder meeting that he was going down by the end of 2025, and his selected successor would take CEO, waiting for approval from Berkshire's Board of Directors.
According to CNBCBuffett reiterated that Greg Abel, the vice chairman of the company of non -insurance operations, previously named by Buffett as his successor, will take it. Berkshire founder announced:
“The time came that Greg was supposed to be the company's chief executive officer by the end of the year, and I would like to springs the directors effectively and give it as my recommendation.”
Buffett added that he will remain in the company in a paper that advises “but the final word is what Greg concluded,” the CEO said. Buffett's decision to go down as the CEO arrives at a time when Berkshire Hathaway sits on cash reserves of approximately $ 348 billion.
The legendary stock investor has repeatedly called for the growing national debt of the United States who did not guarantee and issued warnings to the increasingly unstable macroeconomic environment that gained a toll in the stock market.
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Berkshire hathaway outperforms S&P but was released by bitcoin
Despite being famous for the continued return of almost double the average performance of the S&P 500 to investors throughout his career, the buffet failed to greater bitcoin (BTC) and gold.
Although the Berkshire Hathaway class is a standard stock carrying a price tag of over $ 809,000, and a market cap of more than $ 1 trillion at this time of writing, company shares have been massive underperformed against Bitcoin in percentage terms since 2015.
Bitcoin has returned gains more than 781% of investors since 2020, while Berkshire Hathaway returned only by approximately 150% at the same time.
BTC's Buffett has long been critical, focusing that decentralized, supply-capped, digital currency are worthless and compares it to a scam on many occasions.
The founder of Berkshire and his business partner Charlie Munger repeatedly said that Bitcoin has also not qualified as an investment and should be avoided by entrepreneurs.
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